A TINY London property has gone up for sale for just £50,000 – but there’s a huge catch.
The agents describe the unique offering as in a “prime location”, making the low price particularly unusual.
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However, house hunters soon saw why the price tag was so light – as only a small balcony is on offer.
While set on the front of a grand building in South Kensington, West London, the ‘home’ itself is no more than a small, fenced-off area open to the elements.
Photos from the listing show the cramped outdoor space, covered in artificial grass and surrounded by iron railings.
It is set well above the level of nearby houses, so not ideal for anyone with a fear of heights.
The ad reads: “Next Home Ltd presents a unique opportunity to acquire this exquisite terrace with its own private entrance via a lift, located in one of South Kensington’s most coveted addresses.
“This exciting property is ideal for individuals looking to expand their property or business portfolio.
“Additionally, its convenient location makes it suitable for someone seeking a prestigious central London address, perfect for both business opportunities and recreational purposes.”
Social media users were staggered by the unique listing.
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One wrote: “Is this designed for some criminal endeavour?”
Another added: “You can buy a balcony in central London. Just the balcony, not the rest of the flat.
“Ideal for al-fresco living.”
Meanwhile, a third slammed it as a “metaphor for the housing market”.
It comes after a new rental property appeared on the London market for just £290 a month, but with its own hidden issue.
However, it’s not all bad for those seeking a place to call their own, as house prices experienced their sharpest decline in 14 years in the face of high inflation and a cost of living crisis.
Likewise, banks have slashed interest rates on mortgages as they seek to attract customers by reducing the cost of servicing loans.
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